150 Main St #57 · Islip, NY 11751

$129,990

2 bd · 1.0 ba · 550 sqft · Manufactured · 139 Days on market

Built 1970 Fair condition $1100/mo HOA · 37% of rent ↓ 27% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.6/30.0
• 1% rule +10.0/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated in 2023, this charming unit features an open-concept living room and kitchen, 2 spacious bedrooms, and a generously sized bathroom. This is an outright purchase of the home with a monthly land lease of $1,100, which includes water, sewer, garbage removal, property taxes, and one designated parking space. Additional parking is available for an extra monthly fee. Boat slips are also available up to 24 feet. No dogs permitted – no exceptions. One indoor cat is allowed. This 1970 Van Dyke 12x38 single-wide includes an addition for extra living space. Located in the heart of Islip, the home sits in a peaceful waterfront mobile home community south of Montauk. NO FLOOD INSURANCE REQUIRED. Features include propane cooking and hot water, stainless steel appliances, a stacked washer and dryer, a storage shed, and new skirting and windows.

Key facts

• Boat slips available
• Extra living space
• Propane cooking

Tags

• OPEN-CONCEPT LIVING ROOM
• GENEROUSLY SIZED BATHROOM
• BOAT SLIPS AVAILABLE
• EXTRA LIVING SPACE
• PROPANE COOKING
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $130k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (12.4% below list).
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $114k (12.4% below list) — sets the bar for cash-flow.
• Cap rate 9.5% vs local median 3.2% in Islip — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#59 in NY, #878 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Islip Union Free School District (suburban): math 52% / reading 67% proficiency, ranked #186 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 87 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,366 units permitted in Suffolk County in 2024 (216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Suffolk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; HOA is 37% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,811 (12.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
10. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
11. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
12. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.29% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.4%
• Equity multiple: 0.25×
• Total profit: $-27,181
• Equity at exit: $19,382

10-year hold

• IRR: -13.0%
• Equity multiple: 0.21×
• Total profit: $-28,761
• Equity at exit: $11,239

Cash invested: $36,397 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 11751

• Active inventory: 87
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,971 high
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$1,100
• Vacancy / Maint / Mgmt: −$624
• Net cashflow: $-112

Break-even live

Break-even rent $3,112

Max offer price $113,811

Occupancy floor 99%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $32,498
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 E Main St Bay Shore, NY	2.0	1.0–2.0	750	$2,950	$3.93	43d	1	0.57mi
584 Main St Unit 1 Islip, NY	1.0	1.0	620	$3,150	$5.08	1d	1	0.58mi
35 Penataquit Ave Bay Shore, NY	2.0	1.0–1.5	637	$3,120	$4.89	1d	14	0.81mi
1214 Saxon Ave Unit 1534818P Bay Shore, NY	1.0	1.0	495	$3,374	$6.82	5d	1	1.04mi
700 Justine Ct Bay Shore, NY	1.0	1.0	625	$2,195	$3.51	20d	5	1.21mi
39 Bay Shore Ave Bay Shore, NY	1.0	1.0	544	$2,400	$4.41	43d	1	1.28mi
143 4th Ave Bay Shore, NY	2.0	1.0–2.0	1091	$5,258	$4.82	1d	24	1.42mi
99 S Clinton Ave Bay Shore, NY	1.0	1.0	522	$2,111	$4.04	3d	1	1.45mi

HOA detail

• Monthly dues: $1,100 · $13,200/yr
• Likely covers: watersewertrash

Listing history 19 events

1. 2026-06-18
   days on market $129,990 Active 139 DOM
2. 2026-06-17
   days on market $129,990 Active 138 DOM
3. 2026-06-16
   days on market $129,990 Active 137 DOM
4. 2026-06-15
   days on market $129,990 Active 136 DOM
5. 2026-06-13
   days on market $129,990 Active 134 DOM
6. 2026-06-09
   days on market $129,990 Active 130 DOM
7. 2026-06-08
   days on market $129,990 Active 129 DOM
8. 2026-06-07
   days on market $129,990 Active 128 DOM
9. 2026-06-04
   days on market $129,990 Active 125 DOM
10. 2026-06-03
    days on market $129,990 Active 124 DOM
11. 2026-06-02
    days on market $129,990 Active 123 DOM
12. 2026-06-01
    days on market $129,990 Active 122 DOM
13. 2026-05-31
    days on market $129,990 Active 121 DOM
14. 2026-01-30
    historical

    Show marketing remark (855 chars)

    Updated in 2023, this charming unit features an open-concept living room and kitchen, 2 spacious bedrooms, and a generously sized bathroom. This is an outright purchase of the home with a monthly land lease of $1,100, which includes water, sewer, garbage removal, property taxes, and one designated parking space. Additional parking is available for an extra monthly fee. Boat slips are also available up to 24 feet. No dogs permitted – no exceptions. One indoor cat is allowed. This 1970 Van Dyke 12x38 single-wide includes an addition for extra living space. Located in the heart of Islip, the home sits in a peaceful waterfront mobile home community south of Montauk. NO FLOOD INSURANCE REQUIRED. Features include propane cooking and hot water, stainless steel appliances, a stacked washer and dryer, a storage shed, and new skirting and windows.

15. 2026-01-30
    listed $129,990 Active 855-char remark

    Show marketing remark (855 chars)

    Updated in 2023, this charming unit features an open-concept living room and kitchen, 2 spacious bedrooms, and a generously sized bathroom. This is an outright purchase of the home with a monthly land lease of $1,100, which includes water, sewer, garbage removal, property taxes, and one designated parking space. Additional parking is available for an extra monthly fee. Boat slips are also available up to 24 feet. No dogs permitted – no exceptions. One indoor cat is allowed. This 1970 Van Dyke 12x38 single-wide includes an addition for extra living space. Located in the heart of Islip, the home sits in a peaceful waterfront mobile home community south of Montauk. NO FLOOD INSURANCE REQUIRED. Features include propane cooking and hot water, stainless steel appliances, a stacked washer and dryer, a storage shed, and new skirting and windows.

16. 2025-09-24
    price $149,000
17. 2025-07-29
    listed $159,000 Active
18. 2025-07-20
    historical
19. 2025-06-21
    listed $179,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,650
• − Mortgage interest: −$7,281
• − Property taxes: −$1,950
• − Insurance: −$6,175
• − Repairs & maintenance: −$2,852
• − Management: −$2,852
• − HOA: −$13,200
• − Depreciation: −$3,782
• Taxable loss: −$2,442
• Est. tax savings @ 24.0%: +$586
• After-tax cash flow: $-756/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 5 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance to improve its curb appeal and interior condition, with updates to the kitchen and flooring having the highest resale and rental value impact.

Repairs flagged

• Moderate Exterior siding — Weathered and could benefit from repainting.
• Minor Paint — Slightly faded, but not severely damaged.
• Unknown HVAC — No visible issues, but cannot confirm from photos.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Paint interior walls — Refreshes the interior and makes it more appealing
• Resale Replace countertops — Modernizes the kitchen and adds value
• Resale Replace flooring — Freshens the interior and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and could benefit from repainting.	Moderate	$3,000–15,000
Paint · Slightly faded, but not severely damaged.	Minor	$500–3,000
HVAC · No visible issues, but cannot confirm from photos.	Unknown	$500–3,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Paint interior walls — Refreshes the interior and makes it more appealing ↑
• Resale Replace countertops — Modernizes the kitchen and adds value ↑
• Resale Replace flooring — Freshens the interior and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Islip Union Free School District
• NCES district ID: 3615540
• Math proficiency: 52% ▼ -7.00%
• Reading proficiency: 67% ▲ 10.00%
• Median HH income: $92,825
• Composite: 54.7/100
• National rank: #1325
• State rank: #186 of 590 in NY

Livability — Islip

• Score: 83/100
• State rank: #59
• US rank: #878

Category grades

Amenities B Commute A+ Cost of living F Crime B+ Employment A+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Islip, NY
• City population: 13,152
• Population (ZIP): 13,152

Population outlook (Suffolk County) Hauer SSP2

• Today (2025): 1,505,262 people
• By 2030: 1,498,318 · -0.5%
• By 2040: 1,471,101 · -2.3%
• By 2050: 1,424,848 · -5.3%
• By 2075: 1,337,157 · -11.2%
• By 2100: 1,217,720 · -19.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 15% Two or more races 9% Asian 5% Black 3%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Suffolk

• 2024 margin: Lean R (+10.0) · D 45.0% · R 55.0%
• 2008→2024 swing: -16.0pp toward R · 2008: 6.0pp · 2024: -10.0pp
• All cycles: 2024: R+10.0 2020: R+0.0 2016: R+8.2 2012: D+2.9 2008: D+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -368.19%
• Current HPI: 288.0267
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

-27.4% since first listed

6 events — show timeline

• 2026-01-30 Listed $129,990 OneKey® MLS as Distributed by MLS Grid
• 2026-01-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-24 Price Changed $149,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-29 Listed $159,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-21 Listed $179,000 OneKey® MLS as Distributed by MLS Grid